Economic Indicator Points to Uneven Housing Recovery

WASHINGTON—The number of contracts signed to buy previously owned homes fell in August, a new sign of an uneven housing recovery.

An index of pending sales of existing homes, reflecting purchases under contract but not yet closed, fell 1% to 104.7 in August from July, the National Association of Realtors said Monday. Economists surveyed by The Wall Street Journal had forecast the index would be unchanged.